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tv   Markets Now  FOX Business  January 21, 2013 1:00pm-3:00pm EST

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dn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud?
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♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. ♪ >> happy monday to you. i'm melissa frances. >> good afternoon. i'm lori rothman. president obama begins his second term at the white house facing up packed agenda and divided congress. lou dobbs and the first four years and looks ahead to critical, the critical second term agenda. melissa: if you thought washington satisfied its search to tax breaks it -- rich, think again. senate democrats reportedly want even more knew taxes. lori: breaking details out of algeria after the bloody for a
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hostage situation at the gas plant. hopes fading for survivors. the grim toll and the unanswered questions that. president obama making his career just a couple of moments ago that he is ready to do battle on the economy and that, but not at the expense of social security, medicare, and medicaid >> we, the people, still believe that every citizen deserves a basic measure of security and dignity. we must make the hard choices to reduce the cost of health care and the size of our deficit. but we reject the belief that america must choose between caring for the generation that built this country and investing in the generation that will build its future. lori: the president giving his second inaugural address this morning. rich edson now joining us from washington d.c., and that was certainly a politically partisan address we heard from the
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president. >> reporter: well, it was a defense of the political theory, awaited the u.s. should be governed and should govern itself. i would almost characterize it as something along the lines of a response to what we heard from president reagan in 1981 when he said government is not the solution to our problems, it is the problem. president obama making the case that the government is not necessarily our problem. together we could do great things. together we could take care of the elderly. together we can create a health care system for those who may not be able to afford it. very much discussing ways about how there should be some in society you don't have all or should not be some in society you have all at the expense of all others. he made and not to climate change, something that he had not necessarily highlighted or focused on in his first demonstration. moving forward in tackling debt and deficits, he did talk about tax reform. talk about slowing the growth of these expenses, but still no change in his governing philosophy, if not impassioned
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defense of his governing philosophy. we have heard from democrats and republicans not throughout the day calling for bipartisanship, calling for working together to solve our problems. this is inauguration day, much like election day after all the votes are tallied and everyone has a mullen of togetherness, showing a willingness to work together. you still have a very divided washington and washington that is trying to wade through these problems with two very different gun and philosophies, two very different ideas on how to achieve success. lori: the president digging in. you mentioned the philosophy. this proposal being floated about. >> right. this is at three day proposal. three months proposal. excuse me. republicans will vote on it in a few days in the house. it has not gone completely shut down, so we may get at three month extension of the debt ceiling. extending that three months republicans are asking that congress pass a budget to be
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taken political aim at the u.s. senate because in the u.s. senate they have not passed a budget in a few years. with that they get democrats on the record and the senate with a budget which is something that had been hoping to do politically. they don't have any spending cuts as part of this. another part of this is that congress will get paid if they don't pass a budget. is knows that argument. there will be having budget fights every few months. >> something to look for too. thank you. melissa: just attending the inauguration this morning. lori: that's right. let's bring in lou dobbs listen to that speech this morning. >> the leader of this country for the previous four years. the welcome tone in many respects. in other respects it was confusing and confounding. suggesting that somehow -- he talked about one thing in particular, talking about self executing troops. we don't have any of those. there were moments where he
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seemed to be almost perfunctory in his delivery. this is a task that he had to get through. he did, and it was a short speech, 20 minutes. it was relatively to the point. uninspiring, without specificity in terms of direction. inaugurals often aren't, but at least there are large principals and large visions that overhang the rhetoric, whether it is clumsy or in elegant, as parts of this war, but that was absent. i felt no more certain of what the future of this country was as a result of this presence lead than before he stood atop a platform taking the oath of office for a second time. lori: we were looking at things to pull out of it to talk about, and the only thing that really stood up to me in terms of, you know, something to which television going forward was the sound but we played at the beginning talking about the fact that just because we have out of
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control deficit problems will have to be a country that -- it's not mutually exclusive to get things under control but then to not provide for those in society who, you know, have less >> it was awkward in that respect because it does not take into account the consequences of the public policy choices that have been made. one of -- obviously this year we are seeing an immense number of taxes the fall all americans as a result of the expiration of the bush tax cuts, but importantly because of the new add-ons and higher taxes as a result of obamacare itself without providing services. so this is a confounding and difficult time. i think he made that clear. another thing. a man who says he is a fan of abraham lincoln to talk about the blood by the lash and the blood by the sword, approved our history could not talk about equal rights and have the
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republic survive so long as part of our population was in slavery. he made it sound as if it was some sort of combustible axiom within the nation itself that that occurred rather than the conscious choice of abraham lincoln. and the north, to commit military resources to the nation's future and fate as well as the lives of 300,000 union soldiers who freed the slaves. people need to remember, and this president would do the people of this country a great service and history and reality entered the service if he would acknowledge that 300,000 people from the north engaged in a war of the union to free the slaves. this was not an uprising by slaves. people should remember this. this was not a moment in history in which some league leaders
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grew up from the south of the north. this was a process of the logical conclusion to my belief, of a nation that was divided at its inception on the issue of equal rights. and he should give great credit to every american. history acknowledges it and so should this president. in all of our public commentators should acknowledge the sacrifice of 300,000 people from the north who freed the slaves. they did not free themselves. this president should make that acknowledgement. >> martin luther king jr. day. >> especially. lori: thank you, as always. >> thank you. lori: you can once each and every weeknight seven and 10:00 p.m. eastern. special guest tonight. republican of texas and member of the house do issue very committee on obama, the president's new gun legislation and what else we can expect from the president during his second term. melissa: senate democrats intend to approve a budget for the first time in almost four years, but senator chuck schumer warns, taxes are coming.
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>> we're going to do the budget this year, and it's going to have revenues in it. all republican colleagues produced to that fact. lori: will republicans be receptive? steve more of the "wall street journal" senior economic writer joins me on the phone. what did you think about that? >> great to be with you. you know, the problem for chuck schumer is not so much getting republicans to get used to it. what about all those red state democrats in the senate. those are the people that are probably hyperventilating right now over what chuck schumer said if you look at the l.a. tour map, there are six, seven, or eight red state democrats that face reelection in 2014. melissa, i don't think too many of them are relishing the idea of voting for another tax increase. i wonder whether the chuck schumer, harry reid budget could pass the senate, even with just democratic votes because you have so many people that are up for reelection that are going to
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be very reluctant to stick their necks out and vote. by the way, as you know, we just had a $600 billion tax increase in the fiscal cliff negotiations. plus, we had $520 billion of new taxes from obamacare. this would be the third tax increase. melissa: i really hope you're right because i feel their is a tide of higher taxes. its role in norway. it will keep all of us out to see no matter what our income bracket because it seems like before this last deal there was this notion that if republicans just gave in and went ahead with some higher taxes that then we could get down to the business of spending cuts. that was the idea that was out there. take your medicine now and then we will get down to the business of cutting spending once we have this out of the way. instead, it has been quite the opposite. this was just the first up. the camel's nose in a tent. now there are many more higher
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taxes coming. are you sure that there are enough democrats out there that would stand in a way of this? because i don't know. >> well, we will see. you may be right that some of these democrats make all unite behind the schumer obama budget which calls for somewhere in the neighborhood of another trillion dollar tax increase. the point i was making his is a politically hazardous? but what is striking about the statement that chuck schumer made the you just played was the fact that the democrats really seemed to be on the march right now with the very liberal agenda i agree with the analysis that rich just gave about the inauguration speech. very liberal, left-wing speech talking about collective action and the need to preserve all of these entitlement programs. you are seeing the democrats lurched a little bit to the left ear. let's face it. the republicans are flat on their back. the keep retreating. they just retreated last week. whether to extend the debt
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ceiling. well, maybe we will extended for three months without spending cuts. i think they're feeling their oats right now plan that was reflected by that statement by chuck schumer. lori: without question. thank you so much. love your insight. >> thank you, melissa. melissa: breaking news. the death toll from the algerian gas plant seeds climbing past 80 people as more bodies are being found. u.s. officials say that the american casualties now stand at three people. straight to fox news with more. >> well, that toll is likely to continue to increase in the coming days and maybe even weeks. aagerian officials continue to sift through the entire debris at the tax side. dozens of people are still unaccounted for. officials say they're finding dozens of mangled bodies all over the facility. it is really difficult to tell whether or not they are the bodies of hostages or the attackers. making matters worse according
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to algerian officials, fears a booby traps and mines all over the gas facility. melt the group is planning responsibility for the attack that left at least 48 of the hostages dead. that number is likely to increase. at least three americans are known to have been killed. very little is known about this group whose name means brigade of the mast ones, but it is believed that this extremist group has ties to other groups throughout northern africa. no, the mass parade is promising more attacks like this one in algeria if western governments to stop military operations in mali and across northern africa. initially algerian special forces and officials said that all 32 militants were killed. that has now been changed. officials are saying that at least five, maybe six or seven are now in custody. a lot of confusing information coming out of algeria. one thing we are hearing is that algeria is saying that they will not allow foreign forces to
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secure oil and gas fields, making the potential for this type of attack all the more likely. lori: that is tough to hear. thank you for that. melissa: the investigation into what caused the 787 to make an emergency landing last week now turning to the battery maker. lori: four years later the u.s. unemployment rate is virtually the same. what needs to be done to jump start hiring. brian hamilton, private business information company will join us next. the advice for the president. twins. i didn't see them coming.
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lori: we want to bring you the latest developments on boeing. u.s. and japanese officials beginning an investigation into the lithium ion batteries used.
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those batteries are believed to be the cause of several mishaps. federal aviation administration japanese investigators now probing the manufacture of the faulty batteries. all of the streamliners have been grounded after an overheated battery forced and on the pawn their way 787 to make an emergency landing. melissa: or read about jumping feetfirst into the market? well, listen up. it is time to make a little money. today he has some pros for investing in the market. you are making the bullish case. >> in the next hour i will make the cautious case. high risk. right now the bullish case. for me it revolves around a few things. a global economy first and foremost. global peace valuations. the rotation. lori: that has been the big point of debate. if we're finally seeing money coming up bonds now. >> well, let's just take the first couple of weeks. last week -- the last tally was three nap billion. that was the biggest 12 weeks
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since 2000. so all the money is now pouring out of bonds. no doubt that of the three plus trillion dollars on the sidelines amid starting to come into the market. more than a decade. that right there is certainly interesting. as yields go up and that senior gets above 2% we will see what they call the cult of equities returned to read last year a lot of people. the biggest thing for me on gdp, don't think americans understand just how much money our companies make from growth overseas. i mean, the revenues are right now, perhaps, in the 40%. earnings, 55-60%. absolutely amazing how much money is being made around the world. to that point we will see amazing growth in china, india and other company -- countries around the world because we are focused on america and europe. that will be an amazing, absolutely amazing driver. lori: 80% of earnings. >> also, don't dismiss a global peace. of course a couple of years ago the wrote a book about how this
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is the most peaceful time in the history of mankind. getting a little more peaceful despite some of the bad news we have to deliver from time to time, and people want what we have. 7 million people in the world, 3 billion toilets and 6 billion cell phones. people what we have. lori: thank you so much. melissa: piece out. the inaugural ceremony may be in full swing, but the president knows he has many challenges ahead. getting people back to work. initial unemployment rate is virtually unchanged to be what is the likelihood that will change and for the better? the ceo of stage works, the firm that provides research, specifically on private companies. great to have you back on the show. your initial survey results, the you think this year will be better than last in terms of business practices, hiring, all the things that matter test track. >> really it is hard to say because for the past four years these companies are growing. the margins are good. profits are good, but they are not hiring.
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really, the last time this occurred was in the 1930's, so it is amazing to be very hard to say. lori: good and small business, private business get some level of clarity thanks to the fiscal clifton? >> well, sort of. what you really have to look at is the context. we are sitting at a $16 trillion debt. business people know this. very sophisticated. the country is not able to handle its debt. so that is a big cloud that is sitting over the country, and i think all of these private companies, 27 million of them know about that. lori: if you move past his next fight, when everett will be about raising the debt ceiling. we just heard from the president this morning saying that this is an important issue, but we're not point to sacrifice things like entitlement. that said, the back half of 2013, for the economy, what is the likelihood is strong in the first half once we ideally get past these issues, these fiscal issues? >> that's a great question. that is a huge if. our debt keeps growing and
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growing. now, if that happens and there is no big political bonds out there that we are not aware of and big discussions the last two years with no resolution then people should start to hire people. they have done that for the past hundred and 50 years. we are really in a very uncertain sign. the guys in washington are not making it better by not getting along in making policies early enough so that these businesses can decide what they're going to do. lori: we just heard from our colleague on the public sector. cash on the sidelines. tons of revenue being generated overseas. is the private sector able to enjoy that and all? so much free cash to spend. what is the likelihood? we move past the election, hopefully passed these cliffs. the second half once again. that money is put to work. >> if you're looking at private companies really have to look at cash in, cash out. you have to look good margins, profit performance. all those are very positive and they have been going up for four years.
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remember, these businesses are fundamentally different from publicly traded firms. they don't have tons of cash on the balance sheets, sitting on the sidelines at all. margins are usually very thin. that said, you're right. things are strong. over the past hundred and 50 years when those things a strong for such a long time they got and hire people, buy stuff, fixed assets. they want to make more money and do better. the fact that they haven't is a real big concern. one of our polls, we have shown that 75 percent of the people run these companies are less likely to extend this because of the national debt. so until we get a handle on that they're going to be nervous, and i don't win them. lori: nervous for a long time. at some point you have to do it, higher, spend and get business going. we'll talk to you again. >> cells great. melissa: talks to take private seriously. charlie gasparino has the exclusive details and the blow
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back from shareholders coming up lori: also, we are headed back to washington that second. what are you doing?
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♪ lori: well, market watchers doubt the deal to take tell private would be over by now, but it sure isn't. it's facing serious pressure from shareholders who believed michael dell in this private equity partners a taken the company private at a bargain. charlie gasparino is on the telephone with more exclusive details on this. >> reporter: this is a story you have to cover like baseball inning by inning. >> pound the players. >> reporter: follow the ups and downs. making bold predictions about whether this is going to happen or not is just sort of -- i don't think you go there. it is an interesting story to follow. what's going on right now, from what i understand opinion who you talk to, mini revolt by shareholders and the board of directors of adelle definitely feeling the heat from shareholders over the price of the deal. some are telling the board and its advisers, $13 per share is the sort of price that has been bandied about that this thing could sell for. way too low, and the bankers
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say, the financing is nearly complete. banks, doing what is essentially an lbo of delta ticket private so it will basically be owned by michael dell and silverlake partners. the latest hurdle is getting shareholders to basically approved it. shareholders will have proposed. will you taken not. it is unclear whether enough shareholders will say yes as of right now. we should point out that dell has gone out and hired partners to basically talk to shareholders and the the groundwork of a will tell you this, that the word coming from shareholders to the bankers already on the deal, they think that michael dell and silverlake are stealing the company essentially. two things are coming out of, from what i hear from bankers to my that this clearly could delay the deal. all blamed the press leak. lori: always the media's fault. it's always the media that's out
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there to blame. >> they're saying that because they believe that they could have just, you know, if they did a shock and on, say they remain silent in this week, another were trying to get this thing done by today, by sunday and announce it today, to say they could have been shot in the law, could have gone at one time, come out and say years the price. $13 per share. stock is trading at ten. an initial rush of enthusiasm. the market goes up. they believe they could have gotten this thing done. it dragged on a little bit. now what you have is the naysayers, people questioning this. lori: nasty phone calls charlie gasparino. >> reporter: they did not lead to me. i believe bloomberg broke the initial story. what i understand is that that whole notion of getting nothing out there early, leaking that thing, they believe it really hurt. with the happen and not? can't tell you.
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they will get the financing. investors really see that, the stock will go down to $10, maybe $9 per share. lori: 39 be a good deal after all. thank you so much. melissa: president obama's second term energy agenda taking shape despite the departure of key cabinet members. live look like more of the same? lori: about 1 million people flooding the nation's capital for the inauguration festivities we are talking to the big cheese. neil cavuto coming of next.
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♪ lori: historic day on our nation's capital as president barack obama take the ceremonial
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of the office for a second term. let's give ready. our man in the middle of it all. neil cavuto. i'm surprised you're not at the luncheon sipping champagne. were you supposed to be seated next third? neil: i was tempted to, and i normally would have. i had to rush back here. boy, what a luncheon. the you know, that luncheon including all courses is over 3,000 calories. melissa: her organic bush. lori: neil: steamed spinach. i guess all the sauces. not a lot of bad stuff on the surface, but it is the sauces. 3,000 calories. lori: a crumb apple pie, i guess. sour cream ice cream. i don't know. neil: and on and on. yes. it gets ugly. lori: you complain about the
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take out. at least from where you are having to come back. neil: well, probably. i will say this. the president's second inauguration chance to look at a parade. i know a lot of people, this is a quick and heal the event we celebrate. a president has to say, the whole thing, not that he doesn't mind, but many a president like jimmy carter is often left for a long time and come back. but the fact is, you stay there through out and you have to be fixated on every single marching band and every one of the 2500 different players who are going to be part of that extravaganza. it is a chance for the presidents to unite with the people, bond with the people after an inaugural address that just -- as you were getting into
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earlier -- divided some people because a lot of republicans in this town are wincing after words, the feeling that to the olive branch, trying to extend the debt ceiling another few months, they got a finger thrown back at them, so they are not happy. they are not happy. lori: what is the crowd like? and know it looks absolutely enormous from here, and it is, you know, more than a million people certainly. he would not come out here beyonce of nothing else. it is smaller than it was last summer around. neil: i covered a number of these things. over the years. as i can tell 500,000 from two and a half. a lot of people is a lot of people. the way the press congregates. pennsylvania avenue, across the street from the white house, the capitol, the swearing in of the president, it looked like the people. late last night there were beginning to a plants the crowd
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expectations way down from the nearly 2 million barack, had four years ago to around 50,700,000. now the base that on charter bus system restaurant reservations. i think they just make it up. the fact of the matter is the crowds are smaller. that is not surprising for a president's second inaugural, particularly this president. that is a very high number. so i am not really surprised by that. and then a lot of people like the pageantry and tradition associated with this event. republican or democrat. having said that outside of some of the party hierarchy here, republicans by and large are not represented here. they have gotten out of town as is typical with republican presidents when they come in, outside of the democratic. a lot of the indians just wondered. so, a very big number of democrats. lori: thank you so much.
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melissa: appreciate your take, as always. lori: to bid right here on fox business as neil cavuto talks to michael dukakis and many more starting at 8:00 p.m. eastern. a big week for earnings. all out. that is just a more. melissa: we will tell you what you need to know. ahead of this week's major earnings report next. what's next? he's going to apply testosterone to his underarm.
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♪ >> reporter: i'm sure with your fox business brief. house of representatives voting on raising the debt limit on wednesday. requiring both houses of congress to approve budgets that call for spending cuts. also increasing the debt limit to help keep the government running through may 18th. video-game pioneer files for chapter 11. the company that created games is looking to separate its u.s. operation from its money-losing french parent atari. according to the filing, the new york based atari is looking for more than 5 million in new financing. and when fall, the iconic bat mobile from the 1960's that and tv series sold for almost 5 million at auction of the weekend. transformed from a 1955 ford the pechora. that is the latest from the fox business network giving you the power to prosper.
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♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities.
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lori: the tech sector gearing up for a busy week is heavyweights ibm, google, and backers of are all scheduled for earnings. >> reporter: look at the markets. actually, on the last day of trading we saw the nasdaq underperforming the broader market. tech stocks will be tested this week when trading begins tomorrow. all eyes will be on some of those tight stance that will be taking off the big tech earnings season. it will get started tomorrow. we will hear from ibm as well as global. ibm has been a big story. it is already down on the year. ibm open to rebound from a very tough third quarter. the thing to watch in ibm's earnings will be their revenue numbers. they came up short with 25 billion. sales are going to be key for ibm. the reason i have a year to date
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chart, since january 11th this stock has been on a serious decline and actually closed trading on friday. very much attached. our fourth quarter earnings will fall for the technology giants. a lot of these tech stocks led the way for the rally in the back half of 2012. fourth quarter will be a major tax and it has been on the decline. you also hear from microsoft. a little bit of a preview in the next hour. of course, more on apple in just a second. the decline to $500 per share. the take chance, we will have a look at what you should do. what you should do. a few minutes from now. a few minutes at the top of the 2:00 hour. i'll have more on that. lori: looking forward to that. melissa: and she mentioned apple, setting as a beautifully.
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known for blowing earnings estimates of the water. once they could be a different story. analysts to the company's first loss in years. >> reporter: everyone has been trying to read into apple's quarter, indications from so many different and external sources. but all will be revealed on wednesday after the close of me get apple's fiscal first quarter numbers. let's take a look at the rise of the stock is banon says the last three months, the last six months. 700 in september. down about 18% just in the last. 500 on the nose. and the analyst estimates have been ratcheted down ride along with the stock price. the earnings per share, $13.41 on revenue of $54 billion. the key here is the overall we are looking for a decline. first quarterly decline. down 3 percent across the board. first time this happened in a decade. so this is going to be a true test of the company's brand.
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the products. it's mojo as a whole. then the markets will shift based on what happens. reporting last week. the expectations. what products and what type of sales should we be looking for? >> apple is notorious for over promising, and delivering, and the promising in over delivering. lori: the classic example. yes, with the numbers, but the devil is in the details. the iphone sales, estimates, the hush numbers. 50 million units. your chichi number. ipad sales, 22 million. margins. on the decline. the ipad many in the iphone five. but analysts want to hear. much as strength is coming back. that is kind of the stuff that we are looking for. the details. a lot of anticipation.
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melissa: pedaling down and wind and solar. lori: the price of commodities. and the change. look dickered. down. talk about debasing the greenback. ouch.
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♪ melissa: cabinet shakeups. secretary of the interior can salazar says he is leaving in march. now they are reveling steven chu will depart his post as energy secretary. the recent resignation at epa chief the subjects and. what impact will the cabinet makes a pat on president obama's in its policy. senior fellow at freedom works.
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stevens to love the glucose economy. he wanted everything to run on plants. a theoretical physicist. bella not a big fan. it will depend on your places in. >> the war on energy will absolutely continue. i believe the president said something today during his speech about climate change, what that means, that means borecole stocks, a great shortage of opportunity because the war on call means coal is really, really going to be under a lot of pressure with all the rules and all the regulations this year. lori: the stock but the evidence. the fiscal cliff legislation included $12 billion in extensions for wind energy for tax credits which i have kind of surprised about given how pared
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down its seemed like things were getting to try and get this through. somehow that second as well. that shows you our important it is to the ministration. >> and the belief, not only was it an extension of the wind production energy tax for wind turbines, but there are also a lot of biofuels. also elected motorcycles. so doubling down on green, that is not going to change. nothing to do about the environment, everything to do about making money for obama's cronies in the green energy space. lori: certainly maybe if you are shareholder you can get a piece of that and invested those. you could try and profit along with it. one thing that i heard a lot before the election from people in the energy industry is that they really believe that after the election it would clear the way politically for president obama to be a proponent of the exxon pipeline. i felt like he fundamentally was against the idea.
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>> to get reelected without approving a pipeline that could have brought us more energy security and jobs. you get elected without that. why will he do it now? his climate change the agenda will be very high. he will talk about a carbon tax, but we will release its of regulatory agencies, resting down on the regulations to force the price of regular fool's fire lori: maybe some of these will be built by people who are more friendly. have we heard a name? >> i expected to be worse. greenhouse rules in the pipeline. it will stop the construction of the coal-fired power plants. an existing power plants have been also refineries. the epa department of interior,
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regulate fracking. a huge opportunity for our economy. lori: and fracking, you think positive or negative? >> they will do everything they can to slow that down. the department of interior has a proposed rule. that is a lot of regulations. no really good news and our economy. there is a huge opportunity. the saudi arabia of energy by 2020 if we are allowed to get to it. lori: thank you. melissa: all right. sports. superable 47 is now the battle of the bros. twenty-eight to 13 capturing the afc crown and a chance to play his brother. san francisco forty-niners and the big game.
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28-24 yesterday. played one week from sunday in new orleans. kick up its 6:30 p.m. eastern time. i don't expect immediate to blow up this battle. melissa: was there mom on morning television? who will she reform. the camera on her during the game. dad. both football players before the begin coaches. we have been down this road before. i'm getting excited about this. the buccaneers fan by marriage can be very tough. all right. coming up tonight, the jobs council has not had an official meeting in one year. set to retire at the end of the month. our power panel will discuss.
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tonight at 5:00 p.m. eastern right here on fox business. don't miss it. melissa: there are several ahead in our programming. live programming. business leaders being greeted with our survey as they gather for this week's world economic forum. comments made by hillary clinton this weekend. lori: he has had it with high taxes. he's going to leave the country. we have those stories and more coming up. ♪
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tracy: good afternoon. ashley: the president is now sworn in. how mr. obama handled spending, taxes and jobs will defined his presidency. tracy: and the brief for the bad news. in this survey shows us what the world thinks of these leaders.
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gerri willis will talk about it in a bit. ashley: secretary of state hillary clinton gets the attention of the chinese. they are not happy and that is not good news for the next man in line, john kerry. tracy: safety investigators looking into the problems, they say excessive voltage is not to blame for the fires that grounded bowling star airplane. ashley: phil mickelson take a swing. he coul can be reached take a me possibly out of the country. tracy: we have some good news for president obama heading into his second term. america's outlook on the economy is picking up. 37% of voters are actually satisfied with the state of the u.s. economy. that is up from 20% and the president first took office in 2009. a senior political analyst at the "washington examiner" joining us now from d.c. 37% satisfied.
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i guess it is better than down from 20%, right? >> we were talking about four years ago, we have been through major financial crisis and the outlook for some really major problems was unclear. when you have 37% saying they think it will be better, 63% don't think it'll be better. that is a pretty negative verdict and i think it is a lot different than you would have seen the day of ronald reagan second inaugural. tracy: his inauguration speech, very liberal. talk about climate change, entitlements, no move to centere center whatsoever, does that surprise you? >> there were several messages about green jobs and everything even though every serious policy
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analyst knows the green jobs has been a movement that has been a boondoggle to shovel money to campaign contributors and crony capitalism and bankrupted firms. the macroeconomy, the economic recovery has begun. the recession ended according to the official keepers of that in june 2009 which is to say three and half years ago. if we're looking at a new normal of one to 2% economic growth per year, that will mean continuing long-term unemployment for people, people will not be developed, we will be permanently poor on the trajectory from the 1940s until 2007. tracy: is already looking to take on some big issues. gun control being one of them.
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he talked about immigration, and these big budget issues, what do you see happening over the course of the next term? >> i think this administration will continue to try and expand the size and scope of government and they will try to act through regulatory agencies and through issues by the cabinet department. rather than through legislation. i think we have a clear indication from president obama today that he is not interested in any changes in the entitlement program, i think that, this is a vivid contrast to president clinton for 16 years ago entering his second term was interested in that an engaged in serious negotiations which have at least some consequences. president obama's ruling that out. tracy: we don't see him moving to center at all on any of this, so what does this mean?
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missy kuester, all that stuff coming up, we're kind of sol at this point. >> i think we will hear more name-calling from the president as he has done in the past, thinking the only people who are called names are people on his side which is not true. i reminded him franklin roosevelt's term. they did not dwell on it, but come up with that was the time of sluggish growth when the government was tilting toward private sector unions. at a time when you had a significant recession and weak government, heavy regulations, higher taxes, what got us out of that economic doldrums is something called world war ii. we are in the economic doldrums again, very sluggish growth that has not been president in america since that time. we don't want a world war ii in our hands and none seems to be
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on offer. i am not sure how we get out of this. the younger generation of americans, the majority of whom support president obama although a reduced majority, will have to make do with less at least for the time being. tracy: happily they will be a little disheartened by their votes. thank you for sharing your thoughts with us. >> thank you. ashley: well, in his inauguration address, president obama said the economic recovery has begun, but how far have we exactly come in the past four years? lauren simonetti is taking a look at the numbers and what they may reveal. >> i don't think i'm going to be a ray of sunshine. taking a look at the economy when president obama was first and operated january 202009 and today, four years later still about 12 million people unemployed, unemployment rate exactly the same. what has risen is the national
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debt, take a look at this, 10.64 trillion years ago, and growing. your share that has increased by $15,000 upwards of $50,000 per american household. that is a lot of money. your paycheck probably hasn't increased, maybe it has decreased plus gas prices have decreased. now $3.30. we triple check the numbers. that is the national average. i don't remember it either. food prices have gone up so much so that the dissipation rate is a record 47.5 million right now, and college tuition, you guys have kids, this is public not including room and board. more than $8000, not even $7000.04 years ago. there are some good things, the stock market has done really
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well. the nasdaq has more than doubled over the past four years up about 70% sold some things are getting better, but gdp from negative five and a half to a positive print. i told you it wasn't going to be a ray of light but that is the slow economy would tal we talk t people get frustrated with, the frustration and stayed stagnant at best. tracy: that's what 37% are happy with the economy. lauren simonetti. the battery tech on the green letter shows voltage is not to blame. investigation widens and continues. ashley: so where is the trust? 18% of people think business leaders tell the truth in tough situations. why there is such a lack of
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faith. tracy: drew barrymore is teaming up with discount giant wal-mart. we will tell you why in a few minutes. you can only guess. let's take a look at how wal-mart has traded over the last year. and not so terrible. we will be right back. twins. i didn't see them coming.
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ashley: time to make a little money with charles payne. taking a look at what could derail the stock market rally in 2013. charles: i think this is a huge year for the stock market, however there are risks and people have e-mailed me already to remind me. tracy: i don't think there are
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enough hours in the day to talk about what could derail this economy. charles: all over the world, they came up with a program to eliminate wealth by 2025. no individual billionaires, they don't want any. i put this up because they talk about the negative impact of global wealth over the years, but just looking at this one thing, life expectancy, the development of wealth around the world has not hurt people since the 1950s as you can see life expectancy all around the world significantly better and things will go to need to get better because we are profit driven democracy where people create queues for different things, but these are some of the things i can ultimately derail the market. limit the bonuses, but the interest rates, limit the accumulation is, earnings for executives, redistribute wealth. what happens friday?
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he kind of echoed some of these things. we know this would be extremely expensive, and just talking about that, forget about it because that is an economic miracle. not just because of the jobs it has created, but more competitive as china's wages go up, the reason we can bring some jobs back is our energy is so much cheaper than it is in china. in terms of the bigger issues like the debt and all that, house of cards comes crashing down. the left caught up in the social welfare policies not having to defend them and suffocating for them. tracy: some scary thinking. ashley: it is scary, how dare you be successful. tracy: you did not even mention europe.
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charles: the west. ashley: thank you, appreciate it. tracy: let's go to the latest developments out of algeria where u.s. officials say three americans have died. algeria said 37 people are dead in a hostage standoff at a natural death cam imac gas complex. u.s. investigators are ruling out excess voltage as a battery fire with boeing. this is in the boeing 787 dreamliners. they are in japan visiting with the maker of the planes lithium-ion batteries as we speak. they say they are cooperating with the investigation. shares 5% over the past month, but this story is not going to
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go away. ashley: they cannot find the cause of why the batteries are overheating. the longer this drags on, the worse it is for boeing. tracy: that is even scarier. ashley: business leaders getting ready, created with a scathing report on trust, or lack thereof. gerri willis will talk about that next. tracy: and pro golfer phil mickelson saying he is not ruling out a big move from california. even usa because of those higher taxes. we will be right back. [ wind howls ] [ dog barks ] ♪
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♪ [ male announcer ] something powerful is coming. ♪ see it on february 3rd. ♪
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>> 19 minutes past the hour, this is your fox news minute. two commuter trains crashed head-on. austria state railway is blaming human error for not manually activating a signal. usually automatic warning signal was stopped due to snow and ice. the same storm impacting travel all over western europe. heavy snow canceled hundreds of flights from london to paris to frankfurt a severe winter weather is restricting travel for a second week.
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the nba could be returning to seattle in 2008 the sonics moved and became the oklahoma city thunder. seattle could be california's loss. owners of the sacramento kings could be selling the team for $572 million to a seattle group. the plan to take back the sonics name. they will still need nba approval. those are your headlines on the fox business network, back to crazy. tracy: thank you very much google, apple, microsoft also reported earnings this month. a preview in today's "the trade." sandra: there is fear they could not carry them through the earnings season like they did. they were the root of that rally we saw at the end of the year. here are google shares in 2013, not a good story.
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since january 11, this stock has been seriously on the decline threatening to jump below the $700 mark. only a few stocks in the 700 club, and google is one of them read a really big warning from the company on friday, google itself saying alice may get it wrong because they have not taken into account the sale of motorola home. and then there is ibm, ibm had a really tough third quarter last year, fourth-quarter ability to see the company can turn things around. $5.25 average analyst estimate. analysts over at montgomery are saying that the investors are holding to the notion that ibm can hold strong during sluggish times. which was somewhat called into question based on less quarters
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in-line earnings. i have to leave it there, but apple looking at $500 per share, right now the average analyst estimate, a buy rating with a price target of $729 per share. going into the earnings this week everybody is very optimistic. back to you. tracy: if that isn't a buying opportunity, i don't know what is. thank you, sandra. ashley: where is the trust? only 18% of people think business leaders tell the truth in tough situations. being rolled out to business leaders at the dallas this week and pat each other on the back. tracy: while the trust barometer may be a slap in the face, the ceos and businesses around the world are faring a little better. they say they trust business to do what is right. we trust the company as a whole.
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gerri: that is the overarching sign. what you find is they're looking at all institutions whether it is government, business or even these nonprofit organizations. what is funny is if you think business is faring badly, wait until you see government. 13% believe government would tell us the truth at any given situation, only 41% said they would do the right thing to hear the performance of government powers the business. look, for the private sectors doing better than government, but they still have something to ask for. 38% don't have confidence, or to have confidence in ceo credibility, that is the biggest drop of this survey ever, they have been doing it for 12 years. also folks say businesses need more regulation. only the media so increase in performance.
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maybe it is us. tracy: do you think people know so much more? they trusted ceos because they don't know any better. speaker that is possible. what you'll find is they score the worst with banking and finances. what we were going through, i think it is not just i know more, it is what do i experience day to day. the fact that we bailed out the banks in this country, people did not like that, they don't like it in europe, it is not just you know more, but you're having to foot the bill for these people. ashley: that is going to leave a bad taste for anyone. tracy: interest in th they trust the company, but not the people. who do they think run a company?
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gerri: we need a survey to figure that one out. ashley: what is coming up tonight? gerri: we're talking about a story that is very exciting about a kid who got in trouble for having a gun at school, suggested that she take time away from school and she get counseling. the parents are infuriated and we will have a big story on knots tonight leaving the show. something different if you are tired of the inauguration. although, the on beyoncé rockede show. ashley: she always does. 6:00 and 9:00 eastern time right here on fox business. tracy: liz claman will be live later this week talking to the world's top business leaders. you do not want to miss that. and speaking of trust, the fed has so much faith in our
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nation's banks it has buffered its fiscal meltdown. that means it has cash. ashley: keeping up with one of our big corporate names. drew barrymore. what the actress has in store. we will be right back. [ male announcer ] ahh... retirement. sit back, relax,
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olaf gets great rewards for his small business! pizza! [ garth ] olaf's small busins earns 2% cash back on every purchase, ery day! helium delivery. put it on my spark card! [ pop! ] [ garth ] why settle for less? great businesses deserve great rewards! awesome!!! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? tracy: the president's legacy now tied to our nation's debt. what mr. obama will do about it in my one leading democrat says it will include even higher taxes. we were having a good time. the trio state upsets the chinese making life even tougher for the man expected to take over her post. and by bye birdie.
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phil mickelson's golf game could go over the border due to higher taxes. ashley: house republicans expected to vote on wednesday, but the senate will have to pass a budget, so what will that entail? the answer is even higher taxes. >> we're going to do a budget this year that will have revenues in it and our republican colleagues better get used to that fact. ashley: host of his own nationally syndicated radio program and a fox news contributor. thank you both for being here. let me begin with you, the g.o.p. goes on in retreat announces essentially he will retreat on the debt ceiling issue. so what issue will they draw the line in the sand on, do you think? >> the sequestration on march 1, president obama doesn't get serious about spending and entitlement reform, ashley. $85 billion will be cut out of
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next year's budget that will be extraordinarily bad for the department of defense the worst people on medicare, etc. the president keeps talking and not acting, the consequences are going to get every single american. the march 1 deadline is a good deadline. ashley: to the republicans caved because they realized they couldn't win that battle? >> yes. they heard from their constituents and people generally reported, supportive of candidates, saying generally there is no way you can't raise the debt ceiling because it is a risk and if republicans want to keep playing this, they would have to rally against them, would have tanked and taken the blame. ashley: didn't the g.o.p. have a good point? what does that say to the hard-working taxpayers? >> that same interview you showed just now, they will.
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i do think is unconstitutional, people know much more about it, but i actually like that idea. ashley: higher taxescoming down the pike, is that the way to go? how will that be received? speak of the senate will pass a budget, lots more faith in harry reid and the rest of the country does. it has been for years, they don't want to pass a budget and when senator chuck schumer said more revenues, he meant more taxes. the president has to become responsible taking on medicare eligibility, they have to chain the cbi, raise retirement age for social security, block medicaid, that all has to be done in any kind of the same budget so you will find people up for reelection getting slaughtered in los angeles, tim johnson up for reelection going to lose that one, going to have
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a tough reelection. 22 democrats on the ballot in 2014 don't want to pass a budg budget. so they can sit back and say we will give you three months debt extension, but we will underscore the fact the president and harry reid will not lead in the country is going bankrupt. i hope they actually pass a budget but i doubt they will be able to do that now. ashley: all of these things sucking money away every day need to be reformed, don't you agree? tracy: i find it interesting talking bout medicaid, states have to balance their budgets. you're just pushing the buck saying we don't want to take care of this, some of them governors and they'll have to deal with it. they will not be happy if they
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have to block medicaid and choose whether to balance the budget or pay off medicaid. speaker that is simply not true. >> yes, it is. >> democratic states are broke. michigan is a balanced budget, to look at where the republicans are governing, it balanced budget and they want it. jerry brown doesn't. >> it is not a matter of some states are balance, others are not, allstate had used a balanced budget. speaker that is why phil mickelson is leaving. it does not mandate using real math. speaking to balance the same way you balance new jersey budget.
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ashley: thank you so much for joining us on this day. could've goncould have gone fore hour. thank you very much. tracy: banks have more than $1 trillion sitting in a vault at the federal reserve now some say it is high time that ranks s put the money to work. we will get the bottom line with elizabeth macdonald. >> i'm pretty geeky and i have been reading it. we talk a lot about the debt ceiling and the fiscal cliff, what has gone unnoticed is what is happening at the federal reserve. we're talking about $1.46 trillion in bank reserves parked at the federal reserve, it could rise 2.6 tree and dollars by next year so look at this graph line we are showing you. back to 1960. you will see flatlining through
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2010 and look at that spiked higher on the far right. now trending toward $2 trillion, north of that by next year, so talk about what happens when the federal reserve drops interest rate and pays the bank to park that money at the federal reserve, what if it dropped it to zero? federal reserve says we can actually raise interest rate and keep the money parked at the federal reserve. paintings half of a percentage point. in other news that has gone totally unnoticed, they will hit more than $3 trillion by the end of february, so that it'd be deal. talking for the first time the explicit unemployment target rate around 6.5%, and you can imagine the fed balance sheet will continue to balloon until we get the jobless rate down.
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$3 trillion in rake figure, and it will continue to rise. ashley: thank you. read in the face over comments made by the century of state this weekend. tracy: this pro golfer is teed off about higher taxes and may take his game elsewhere. we will be right back. [ male announcer ] you are a business pro. executor of efficiency.
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>> i am shibani joshi with your fox business brief. they have hired an investment bank to represent their interest in any sale of hostess brand. the goal is to ensure new owners of the company hires former workers. one ceo who can complain about his paycheck last year, disney ceo. his pay package climbed 20% in 2012 to more than $40 million. and want to be one of the first to board your next flight with southwest airlines? all it takes is 40 bucks. 45 minutes before the flight departs and the money must be paid at the gate. the airline currently doesn't have any assigned seating procedure. that is the latest from the fox business network giving you the power to prosper.
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tracy: jeff flock with the details. jeff: take a look, it is ultra pawn.com. folks that we would not come to pawn shops. a private equity guide, you saw a need for this. >> business a lot of times with liquidity to sell off their assets. there wasn't a similar thing like that for the high-end luxury consumer where they wanted to take the value and sell it off for cash liquidity purposes.
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what we did was we provided them with a luxury service, an online platform to convert assets into cash from the comfort of their home. jeff: how many carrots are in there? shibani joshi cares of diamonds in that transaction upwards of $100,000 for the necklace and dependence. jeff: this sculpture. a guide right to bring payroll. >> the bank had not extended his credit line. he brought a sculpture i gave him alone he could make payroll and continue with his business. jeff: part of this is the run-up in gold spawning this. also a lot of differences now that are actually publicly to companies that operate upon shops. >> i think as an industry this
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becoming more notable in the market. we wanted to provide a place for the customer service they are accustomed to getting. jeff: there you go, folks. pawn not just for the guys on the street. tracy: good stuff. ashley: chin china is furious wh hillary clinton. this weekend saw the disputed islands in the east china sea are under the administration of japan. china fired back saying clinton's comments are ignorant of the facts. gordon chang joining us now. we have been following this territorial dispute, and clinton jumping in stating that fact, which i believe are true.
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what is the potential of this situation between china and japan getting out of hand? >> this is really serious. these islands are ministered by japan. in fact the chinese are wrong and the significance of that is we have a treaty with the japanese that requires us to come to their defense over territories that are administered by tokyo. that means the united states can get involved in this. tracy: china, japan, the u.s., we're talking potentially some sort of small war. >> yes, within the hour the chinese have patrol ships and have been doing this regularly for four or five months, both china and japan scrambled jets a week ago and so the potential for somebody making a mistake is enormous, so this could be the 1914 croatia.
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ashley: is often difficult dealing with the chinese. >> they want territory not only from japan, but south korea. all the nations were more than 50% of the world passes each year. territory disputes with india trying to deny freedom. that will really be an issue, and that is a problem. tracy: you said that our image around the world, it is not so great. >> they're concerned about a couple of things. they want strong american leadership because they're concerned about china. also they're concerned john kerry, who would probably be the next extra state might tilt toward pakistan. whenever there is a problem in pakistan, we sort of rush over there to save the place, meaning we're more on pakistan's side than new delhi.
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a former indian ambassador to the u.s. three times within one week complained to me about washington's policies express a lot of concerns. ashley: wasn't bin laden found in pakistan and can argue the authorities really let us down? >> they really did. the networks killing american soldiers and they are directing these terrorist attacks against india and it just two weeks ago in india you had these border shooting industries, indian soldiers were beheaded. this is very serious for new delhi. ashley: thank you very much for being here. tracy: as the president returns to the white house, rich edson standing by to talk to us about today's events in washington. ashley: drew barrymore teaming up with the corporate name while
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phil mickelson says he may cut his game short because of taxes. it's liberty money headlines when we come back. twins. i didn't see them coming. i have obligations. cute obligations, but obligations.
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ashley: president obama will be heading back to the white house shortly ahead of tonight's inaugural ball. did you get your invitation? hundreds of thousands of people filling the streets of washington, d.c., today. rich edson is there with the latest. rich: the congressional lunch and just about wrapping up when the inaugural parade begins.
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president obama wrapping up his second inaugural address are fighting a stron stronger defenr his governing philosophy that government can provide dignity and equality to the people of america. also on top of this it almost seemed for a while as if it was a response to the words spoken by president ronald reagan in 1981 when he said government is not the solution to the problem, government is the problem and president obama saying in this particular address providing a strong defense for the nation's entitlement programs. >> the commitments we make to each other for medicare and medicaid and social security, these things do not stop our initiative, they strengthen us. they do not make us a nation of takers, they free us to take the risks that make this country great. rich: calling for bipartisansh bipartisanship. this is very much on a surface a day for bipartisanship with
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reality hits in washington tomorrow it will not be the beginning of a new era with bipartisanship. back to you. ashley: thanks so much. tracy: actress and producer drew barrymore teaming up with wal-mart. launching a new beauty line in the brand. named after her production company available in wal-mart stores across the country. she chose wal-mart due to the vast reach and accessibility because she didn't want to spend money on marketing. she put it o all into the produs she claims. she figured wal-mart can do it. ashley: how about this story. pro golfer phil mickelson says he could be ready to move out of the country if need be. a california resident is fuming over the high state and federal taxes he has to pay says he is ready to make drastic changes.
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right now by his calculations he has a 63% tax rate. you know who is rubbing his hands together right now? vladimir putin. we will build a couple of golf courses for you. tracy: i think you are right earlier. ashley: the tennis players have citizenship, why not. issuing an alert about a new file share site that was unveiled this weekend. dennis kneale has the details. dennis: 1 of the biggest alleged pirates is back with a vengeance. kim dotcom unveiled a new high-speed service for digital services. unwisely, kim dotcom hosted the
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media at his ranch into a to view the dubious site. he even has female dancers reenacting the rate at his mansion. but he says this is not some sort of finger to the u.s. government or to hollywood, although london ran a headline saying he is back sticking two fingers up to the fbi. a year ago now looks like it dead pirate walking the plank. they shut down his site, the agents seize domain names and assets including rolls-royce and mercedes-benz. that case is pending, and wobbling. new zealand admitted to illegally spying on kim dotcom in some doubt the fbi legal standing.
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in march the court will rule on whether to extradite him to the u.s. this time around the new site has everything encrypted so the site itself has no idea what content lies inside this encrypted digital package. see no evil approach. you have to wonder if this can work. ashley: this guy is doing pretty well though. dennis: he has egg ad networks sending millions of dollars in advertising to these illegal download sites because they're advertising a summary millions of sites they don't even realize they're supporting it. tracy: and people are going to these sites ultimately. you cannot stop it. they would make money if we stop trying to attack them and just sell stuff.
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tracy: crazy. ashley: cheryl casone will be on next one "countdown to the closing bell." thanks for staying with us, and have a great rest of the afternoon. [ male announcer ] where do you turn for legal matters?
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